Bangalore Economy
Bangalore is one of the premier economic centre in India. It is considered as one of the biggest contributors as well as the fastest growing economic centres in the country. It has achieved the economic growth of about 10.3%. The city has the fourth largest fast moving consumer goods market in the country.
There are several important personalities who have contributed immensely in the economic growth of Bangalore. Visionaries like Sir Mirza Ismail and Sir Mokshagundam Visvesvaraya have made the city with great manufacturing and industrial base. Today the headquarters of the second largest IT company is situated in the Silicon Valley. There are plenty of manufacturing houses and public sector undertakings such as Hindustan Aeronautics Limited (HAL), National Aerospace Laboratories (NAL), Bharat Heavy Electricals Limited (BHEL), Bharat Earth Movers Limited (BEML) ,Bharat Electronics Limited (BEL) which are located in the city.
The Silicon Valley of India is stuffed with huge number of information technology companies which contributed 33% of India's Rs. 144,214 crore (US$ 31 billion) IT exports in 2006-07. The standard of living is high here as this city houses 10,000 dollar millionaires.
